Investors' Soapbox AM

Game of Chicken in Grain Planting

THE US DEPARTMENT OF AGRICULTURE revised down its corn-production numbers below consensus and raised its price estimate by 30 cents per bushel, to $3.20-$3.80, while also raising its price estimate on soybeans by 60 cents per bushel to $8.50-$9.50.

This is bad news if you are feeding corn and soy to animals (Tyson Foods, Pilgrim's Pride, and Smithfield Foods and bad news for ethanol producers like Archer Daniels...